The Flatiron Building will convert from Commercial to Residential

The Flatiron Building in New York City is iconic for its incredible massing profile – a 22-story building forming a wedge in the angled intersection of Broadway and Fifth Avenue. Even tourists who don’t know the historical background of the building can’t help but look up and take a phone snap as they exit Eataly, refueled with espresso for their journey.

A lot of discussion is occurring about the massive housing shortage in the New York area and how this currently matches up with the glut of office building space. It makes sense that office conversions to retail make a best-use argument. The problem is two significant difficulties in converting office space to residential. One is the lack of residential infrastructure, such as trash chutes, plumbing risers, and mechanical chases in a residential multitenant building. These elements drop the net square footage available for apartments.

The other and more difficult obstacle is that residential apartments require all habitable rooms (except kitchen, bathroom, and storage) to have windows at a ratio of 1 square foot of window for every 10 square feet of floor plan in the room. This light and air requirement was pioneered as a New York City code item but is now enshrined nationally in the IBC. Many buildings built as commercial office buildings have huge floor plates, the better to keep a business firm all on the same floor. But what works efficiently for an office with no mandatory window requirements creates a challenge for interior window layouts in a residence. 100 Water Street, for example, as an office-to-residential conversion, ends up having strange hallways connecting the common hall to the living spaces, to arrange the living spaces to the perimeter of the building.

The Flatiron conversion will have no such challenges. It is a very narrow wedge, with enormous windows near its core, so apartments can easily access light and air requirements.

GFP Real Estate, the Sorgente Group, and ABS Partners will undertake the conversion. The current plans call for 40 residences, so this will definitely be within the luxury market category. Approval of the project will have to go through the Department of Buildings and Landmarks.